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The WONGA scum.

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Hetzer
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Joined: 19 Feb 2007
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PostPosted: 09:55 - 25 Jun 2014    Post subject: The WONGA scum. Reply with quote
Fined £2.6 million. For being lying fraudulent scum. Sending letters to people who were behind in their payments, falsely claiming to be from a law practice, and adding a charge for said letter. 45,000 of them. No "mistake" or "accident", deliberate fraud on a massive scale. And this company of vermin advertises on national TV. How about prosecuting the CEO?

I would enjoy hearing the top ten CEOs from WONGA had been tied by their ankles to the back of a car doing 20mph around the M25 for an entire lap.

Utter...fucking...scum.
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Itchy
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PostPosted: 10:21 - 25 Jun 2014    Post subject: Reply with quote
OT : I don't get British regulators, in that they made about 60 million profits. So while 2.6 million as a headline figure sounds huge it really isn't.

Yet are fined 2.6million, oh yeah that's going to teach them isn't it? Hell if it only cost 2.6million to act illegally it is encouragement to act illegally in the future.

I reckon it should be percentage based like HMRC letters to citizens are, no penalty if it is a genuine oversight. 25% for major errors. 50-200% penalty for actual fraud.
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Rigga
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PostPosted: 10:22 - 25 Jun 2014    Post subject: Reply with quote
Cleanse the lot of them,they deserve it for their radio and tv ads alone.
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Ste
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PostPosted: 10:59 - 25 Jun 2014    Post subject: Reply with quote
Quote:
I'd stab or shoot somebody given the right reason.

G'wan... Pass the popcorn

And the £2.6 million fine is all well and good apart from it'll go to whatever government coffers rather than back to the 45,000 people who received the letters or the tens of thousands of Wonga customer's who've been ripped off.
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Itchy
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PostPosted: 11:01 - 25 Jun 2014    Post subject: Reply with quote
Ste wrote:


And the £2.6 million fine is all well and good apart from it'll go to whatever government coffers rather than back to the 45,000 people who received the letters or the tens of thousands of Wonga customer's who've been ripped off.



When you state it in those terms it kind of sounds almost like brown envelope money, y'know rather than an actual penalty.
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Musketeer
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PostPosted: 11:14 - 25 Jun 2014    Post subject: Reply with quote
I think Wonga and alike should be banned. People who cannot repay loans shouldn't be getting them.
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gbrand42
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PostPosted: 11:22 - 25 Jun 2014    Post subject: Reply with quote
I still thnk the 2 old dear puppets in the advert lez it up for the old bloke puppet when they are not busy filming adverts............it's not just me is it?
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ScaredyCat
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PostPosted: 11:22 - 25 Jun 2014    Post subject: Reply with quote
Ste wrote:

And the £2.6 million fine is all well and good apart from it'll go to whatever government coffers rather than back to the 45,000 people who received the letters or the tens of thousands of Wonga customer's who've been ripped off.



The money isn't going to the government it's going to Wonga's affected customers. https://www.fca.org.uk/news/wonga-redress-unfair-debt-collection-practices

Quote:
Wonga must identify and pay redress to all affected customers. While some customers will receive cash, others will likely have their outstanding balance reduced.

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map
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Joined: 14 Jun 2004
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PostPosted: 11:27 - 25 Jun 2014    Post subject: Reply with quote
Rigga wrote:
Cleanse the lot of them,they deserve it for their radio and tv ads alone.

A plan would be to put pressure on the TV and radio people who take WONGA money. Ask them if they really want to be associated with this type of firm that acts illegally.

I suspect the answer will be "...but they pay us". Which should tell you all you need to know.
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Hetzer
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PostPosted: 14:01 - 25 Jun 2014    Post subject: Reply with quote
According to the FSA bloke it's up to the police to decide if prosecutions should be brought for what are clearly criminal offences.

I guess we'll not hold our breath then.
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J4mes
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PostPosted: 14:35 - 25 Jun 2014    Post subject: Reply with quote
mJZ wrote:
I think Wonga and alike should be banned. People who cannot repay loans shouldn't be getting them.


But when you can't pay wonga, you end up in court. When you can't pay your local loan shark, you end up with broken fingers and a raped missus.

Confused

Poor people are always going to borrow money they can't afford to pay back.

I did it as an apprentice, stuck loads of crap on a credit card which I then couldn't afford to pay (about £3k)

I ended up working at KFC from 17:00 to 02:00 and going to college from 07:30 to 16:00 and I did this 4 nights a week for 4 months.

Taught me a valuable lesson - dont borrow money for shit you don't need and definitely don't borrow money you can't afford to pay back!
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Hetzer
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PostPosted: 16:15 - 25 Jun 2014    Post subject: Reply with quote
J4mes wrote:


Taught me a valuable lesson - dont borrow money for shit you don't need and definitely don't borrow money you can't afford to pay back!


Unless you don't have to pay it back.
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Itchy
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PostPosted: 16:17 - 25 Jun 2014    Post subject: Reply with quote
Hetzer wrote:

Unless you don't have to pay it back.


Wot you mean like the banks?
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Hetzer
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PostPosted: 16:19 - 25 Jun 2014    Post subject: Reply with quote
Itchy wrote:
Hetzer wrote:

Unless you don't have to pay it back.


Wot you mean like the banks?


Aye. But giving them a taste of the same.
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GhostRider
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PostPosted: 16:26 - 25 Jun 2014    Post subject: Reply with quote
....I'm listening.

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bEN_
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PostPosted: 16:42 - 25 Jun 2014    Post subject: Reply with quote
There's so many of them now it's unreal, i think most adverts now are either some dating site or a quick fix loan advert with strange puppets appearing like trust worthy safe old folk ( although i have to say the old man always looks like he's gurning to fuck ) or it's a singing satsuma or some shit.

i guess apart from that, the key words that hook the bingo playing single teenage mums are words like "you choose, you control, when YOU want to pay back blah blah"
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angryjonny
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PostPosted: 16:45 - 25 Jun 2014    Post subject: Reply with quote
Someone whistling along to a ukelele is ad-speak for "everything's going to be ok" - companies who want to rip you off use it a lot. Extended warranties, loan sharks, low-rent insurance companies, cash for your gold etc etc.
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The Artist
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PostPosted: 17:08 - 25 Jun 2014    Post subject: Reply with quote
Just for info, as a previous Wonga customer, they sent me this today.

Quote:
As you may have already read or heard in the press, following an announcement by the Financial Conduct Authority we have today issued a public apology. We are identifying the customers affected by a historical debt collection issue and certain system errors.

Following our internal investigations, we can confirm you have not been affected by the debt collection issue. You do not need to do anything but please read this email carefully.


Historical debt collection issues

Between 2008 and 2010, we sent out letters to 44,556 customers claiming to be from companies “Barker & Lowe” and “Chainey, D’Amato & Shannon”. These letters were in fact from Wonga. They gave the misleading impression that customers’ outstanding debts had been passed on to a law firm (or other third party) with the threat of adverse consequences if the debts were not repaid quickly. Charges were added to some customer accounts as a result of this practice.

This practice was unacceptable and should never have happened. It ran contrary to the principle of transparency on which our business has been built.

System errors

Following an internal investigation we have also identified certain system errors, which resulted in the miscalculation of some customers’ balances. Some customers overpaid Wonga whilst a greater number underpaid, with the majority of those customers who overpaid Wonga, overpaying by less than £5.

All known balance calculation issues have been addressed. For existing customers, where they have overpaid Wonga this will be repaid with interest and those who underpaid Wonga will not be asked to pay the shortfall.

We are in the process of identifying the customers who have been affected by these system errors. We will be in touch directly with all customers who have experienced financial loss as a result of these errors.

Our apology

We apologise unreservedly to all of our customers. Although you may not be directly affected by these issues, we are working hard to do the right thing and earn back your trust.

Our priority now is to work with the Financial Conduct Authority, our regulator, to agree a redress programme which will ensure affected customers are appropriately compensated.

For further information on these issues visit wonga.com/apology or call us directly on our freephone number, 0800 840 0836 or national call rate number, 0333 005 0836 to speak to our customer service team.

Yours,

Tim Weller
Interim CEO, Wonga Group
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Rigga
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Joined: 29 Nov 2012
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PostPosted: 17:13 - 25 Jun 2014    Post subject: Reply with quote
Fake solicitors letters too!
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Itchy
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PostPosted: 17:24 - 25 Jun 2014    Post subject: Reply with quote
The Artist wrote:
Just for info, as a previous Wonga customer, they sent me this today.


You should charge them 4000% interest on what you paid.
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Hetzer
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PostPosted: 17:26 - 25 Jun 2014    Post subject: Reply with quote
"historical debt collection issue"

Translation: criminal fraud.

Now fucking prosecute the scum, you two-faced fucking pigs.
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Itchy
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PostPosted: 17:29 - 25 Jun 2014    Post subject: Reply with quote
Hetzer wrote:
"historical debt collection issue"

Translation: criminal fraud.


Oh come on you should know better than that already! one rule for us...
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The Artist
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PostPosted: 17:42 - 25 Jun 2014    Post subject: Reply with quote
Itchy wrote:
The Artist wrote:
Just for info, as a previous Wonga customer, they sent me this today.


You should charge them 4000% interest on what you paid.


I have no issue with the transactions I personally conducted with them. I borrowed £x and paid back the agreed amount on time. They provided a useful service at a price agreed beforehand. The interest rate is obscene but if I walk into a bank and say I need £200 in 15 minutes, they won't give it to me. Wonga will.

I am a bit more sensible now and have a normal credit card so in an emergency, I don't have to resort to places like Wonga.

I do think what they did to some customers is out of line and they should be fined far more than what they have been. I just don't think calling them scum for the service they offer is right. Calling them scum for ripping people off and actual fraudulent activity is justified.
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CaNsA
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Joined: 02 Jan 2008
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PostPosted: 18:37 - 25 Jun 2014    Post subject: Reply with quote
This dropped into my inbox.


Quote:
As you may have already read or heard in the press, following the Financial Conduct Authority announcement we have today issued a public apology. We have identified the customer group affected by a historical debt collection issue and certain system errors.

Following our internal investigations, we can confirm you have not been affected by either of these issues. You do not need to do anything but please read this email carefully.


Historical debt collection issues

Between 2008 and 2010, we sent out letters to 44,556 customers claiming to be from companies “Barker & Lowe” and “Chainey, D’Amato & Shannon”. These letters were in fact from Wonga. They gave the misleading impression that customers’ outstanding debts had been passed on to a law firm (or other third party) with the threat of adverse consequences if the debts were not repaid quickly. Charges were added to some customer accounts as a result of this practice.

This practice was unacceptable and should never have happened. It ran contrary to the principle of transparency on which our business has been built.

System errors

Following an internal investigation we have also identified certain system errors, which resulted in the miscalculation of some customers’ balances. Some customers overpaid Wonga whilst a greater number underpaid, with the majority of those customers who overpaid Wonga, overpaying by less than £5.

All known balance calculation issues have been addressed. For existing customers, where they have overpaid Wonga this will be repaid with interest and those who underpaid Wonga will not be asked to pay the shortfall.

Our apology

We apologise unreservedly to all of our customers. Although you have not been directly affected by these issues, we are working hard to do the right thing and earn back your trust.

Our priority now is to work with the Financial Conduct Authority, our regulator, to agree a redress programme which will ensure affected customers are appropriately compensated.

For further information, visit wonga.com/apology or call us directly on our freephone number, 0800 840 0836 or national call rate number, 0333 005 0836 to speak to our customer service team.

Yours,

Tim Weller
Interim CEO, Wonga Group
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